EURJPY - 1st Strike Trend Continuation

The EURJPY was one of the main pairs on my watch list heading into this week of trading due to the fact that we had just broken a previous level of structure support.

I took a small loss on an aggressive day trade on the 5 Range bar charts during this mornings Live Room session, but this was the first opportunity I had to get in as a swing trader.

It's an aggressive sell once again, but due to the amount of risk & the risk reward potential of the trade it's certainly a trade that I'm interested in.

If stopped out, my eyes will then be on a second chance short around the $119.00 price point which is a level where previous structure support has shifted to resistance in the past.

I sent a video out of the initial analysis this morning & if I have the time later on the the week I'll try to put everything together so that you guys can see it as well.

Good luck in the markets traders & keep an eye out for those WED FOMC Minutes. Although it's a USD based release, the USD & the YEN have been in a fierce battle of save haven pairs so I would certainly expect to see some type of reaction.

Akil Stokes
Forex Trader & Trading Coach